Yes, there was a lot of story left open to lead into the Avengers. Right from the opening scene you could tell there wouldn’t be resolution within this movie. That said I did like it quite a bit. The pacing was good, though it was textbook good, so don’t expect too many surprises in how the movie progresses. I think the graphics were amazing. The mini Steve Rogers was nearly flawless. Instead of using a body double and stitching a head onto it, they actually rotoscoped the whole thing to shrink the guys body. Pretty intense, and I think it paid off. I really liked the Red Skull and how they used practical effects rather than a CGI head. I wouldn’t have liked a “realistic” version of the Red Skull, and much prefer that they stay true to the comic book look with a rubber mask.
The action was great, and I really liked the vintage Captain costume. It captured the spirit of the character, while still looking “realistic” for the movie setting. The battle montage in the middle where Captain America is leading the fight against the Hydra weapon factories was awesome. I loved how it captured both the inginuity of the team, and the brute strength that they’re capable of.
The only downside for me was the final Hydra bunker battle. I watched it in 3D, and can only assume the digital print suffered the same problem. The first 2/3rds of the movie looked like it was shot on film. The action sequence in the last 3rd, inside the bunker and the bomber, had that digital camcorder look to them. It’s like they forgot to render the scenes with the filters turned on so it had this “made for TV” look. Not a huge problem, but if you have keen eyes it was a little bothersome, though it was one of my only complaints. I wouldn’t say that the 3D version was a must see anyhow. There was some stuff that popped in 3D, like a couple shield throws, and it helped give depth to some of the sets, but overall you’re not going to miss much by watching the 2D version. I’d even wager that you could skip the digital version and see if it helps with that one problem in the later part of the movie.
I’d say it’s a 4/5 with the biggest shortcoming being the story doesn’t wrap up the way a movie should as it clearly has a sequel in mind. I think if the Avengers delivers a good show, then this could retroactively get bumped up a .5 or even to a full 5/5 with a good conclusion to what Captain America has started.